PwC announces new steps to support new joiners and prospective recruits from lower socio-economic backgrounds

PwC announces new steps to support new joiners and prospective recruits from lower socio-economic backgrounds.

Actions follow major research project in collaboration with Thinks Insight & Strategy

• School leavers and graduates will be able to advance up to a £1000 of their first month’s salary.  The option will be open to everyone, helping to reduce any potential stigma associated with the request.

• Socio-economic background data will be incorporated into the way PwC monitors work allocation to ensure there is fair access to high profile clients and projects

• Salaries will be published on job descriptions for our school leaver apprentice programmes, with a view to expanding this to all entry level roles. 

• Increased mentoring will be made available for new joiners from lower socio-economic backgrounds.

PwC is taking a number of new steps to support new joiners from lower socio-economic backgrounds* settle in and progress in the firm. The actions, which include the option of a salary advance for next year’s graduate and school-leaver intake, follow a significant research project with Thinks Insight & Strategy.

The research followed a cohort of new joiners from lower socio-economic backgrounds on the firm’s school leaver and graduate programmes. The 19-strong group journalled their experiences over eight weeks and responded to questions via an anonymised online platform run and moderated by Thinks. A related strand of research gathered insights from potential future employees.  This group included school-age students, parents, and students taking or having completed a technical qualification.

The project culminated in a ‘co-creation workshop’ facilitated by Thinks, where the new joiners and senior partners at PwC discussed the findings and explored ways to address the issues raised. Actions announced by the firm today are a direct result of those discussions and are included in a new PwC and Thinks report: Getting in and Getting Started.

Ian Elliott, chief people officer at PwC said: 

“We’re proud of the strides we’ve made broadening access to the firm, focusing on potential not pedigree. But equally important is how we support people to settle in and develop once they get here. We wanted to better understand the experiences - warts and all - of prospective and new joiners, particularly those from lower socio-economic backgrounds.  By learning what's working well and what isn’t, we’ve been able to identify changes that we hope will make a significant difference to their experience.”

It’s clear that many of the challenges surfaced by the research could affect all prospective and new employees, but they are particularly acute for those from lower socio-economic backgrounds - particularly against the backdrop of rising living costs.  For example, new employees are keen to spend time socialising with colleagues, but are put off by the related costs, particularly before they’ve received their first paycheck.  This exacerbates concerns many have about fitting in and networking.

Ian Elliott added:

“A vicious cycle emerges whereby people who may already feel daunted by corporate life, don’t establish the same support networks and lose confidence. We want to help everyone start on the same footing.  There are many factors at play. The actions we’ve identified cover everything from making the application process more accessible, through to financial wellbeing, mentoring, and how work is allocated.”  

PwC’s actions to support social mobility are underpinned by new targets for socio-economic diversity within the workforce. The targets are set by grade, recognising the importance of socio-economic diversity at all levels of the organisation and the need to ensure progression.

Emilija Bitinaite, an associate in PwC’s tax practice who contributed to the research, said:

“Being a part of this project gave me a sense of relief, by providing a platform to address issues that may have gone unnoticed by individuals from more privileged backgrounds.  I found that the environment allowed open discussions about personal experiences and the impacts they have on our day to day working life, without the fear of judgement.”

• Ends

Notes to editors

*socio-economic background defined by the occupation of a person’s main household earner when they were aged 14, which is the most accurate measure according to the Social Mobility Commission.